HDFC Used Car Loan Key Features
HDFC Used Car Loan Interest Rate | 7.50% |
Min Loan Amount | ₹ 100,000 |
Max Loan Amount (Loan to Value) |
Loan up to 100% of Market Price |
Loan Tenure | 1 year to 7 years |
Lowest EMI / Lac | ₹ 1,622 |
Minimum Net Monthly Income | ₹ 25,000 |
Minimum ITR for Self Employed | ₹ 300,000 |
Age Criteria | Salaried: 21 years to 60 years Self Employed: 21 years to 65 years |
Types of Cars | For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs). |
Processing Fee | 2%(max Rs. 5,000) |
Foreclosure Charges | Not allowed for 6 months; 6% fee from 7-12 months, 5% from 13-24 months, 3% after 24 months |
Basic Documentation | ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation |
About HDFC Used Car Loan
HDFC Bank is the largest competitor in providing the Car Loan. HDFC Bank provides car loans for the new and used cars as well. You can avail up to 100% finance for used cars from HDFC Bank. Minimum documentation is required for availing a car loan. You can get instant disbursal.
HDFC Bank provides Loans for used cars at an affordable rate of interest to the customer for buying their dream car whether new or used. This loan is an easily available loan which can be acquired by anyone even by ones who have a slightly low credit/CIBIL score.
Advantages of HDFC Used Car Loan
HDFC Used Car Loan Eligibility
Salaried Individual |
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Self-Employed Individuals |
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Self-Employed Non-Individuals (Company/Partnership) |
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Priority Customers |
|
HDFC Used Car Loan Interest Rate, Fees and Charges
Charges | New Car Loan | Used Car Loan |
Interest Rate | 7.50%. | 12.75% – 15.50% |
Processing fee | 0.40% (Max Rs. 10,000) | 2% (Min Rs. 5,000) |
Issuance of Duplicate Repayment Schedule Charges | Rs.500 per instance | Rs.500 per instance |
Foreclosure Charges | Up to 6% of the principal outstanding | Up to 6% of the principal outstanding |
Penal Interest | 2% | 2% |
Part Payment charges | Up to 6% of the paid amount | Up to 6% of the paid amount |
Cheque/Instrument Swap Charge | Rs.500 per instance | Rs.500 per instance |
Documentation Charge | Rs.630 per instance | Rs.630 per instance |
Issuance of Duplicate No Dues Certificate Charges | Rs.500 per instance | Rs.500 per instance |
Registration Certification Collection Charge | Rs.200 per instance | Rs.200 per instance |
Cheque Bounce/Instrument Return Charges | Rs.500 per instance | Rs.500 per instance |
Issuance of Duplicate Statement Charges | Rs.100 per instance | Rs.100 per instance |
Loan Cancellation/Re-booking Charges | Rs.1,000 per instance | Rs.1,000 per instance |
Issuance of Credit Report | Rs.50 per instance | Rs.50 per instance |
HDFC Used Car Loan Documents Required
Salaried Individual
Category | Documents Required |
Identity Proof
(Any 1) |
Driving Licence Aadhaar Card Passport PAN Voter ID |
Address Proof
(Any 1) |
Driving Licence Aadhaar Card Passport PAN Voter ID |
Date of Birth Proof
(Any 1) |
Birth Certificate Passport Driving Licence PAN |
Signature Proof
(Any 1) |
Passport Bankers Verification PAN |
Income Proof | Latest Form 16 and Salary Slips |
Bank Statement | Bank statement of last 3 months |
Employment Continuity Proof | Work Experience Certificate ITR of Form 16 Salary Slip with Joining Date Appointment Letter Letter of Relieving |
Self-Employed Individuals
Category | Documents Required |
Identity Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
Address Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
Date of Birth Proof (Any 1) | Birth Certificate Passport Driving Licence PAN |
Signature Proof (Any 1) | Passport Bankers Verification PAN |
Income Proof | Latest Form 16 and Salary Slips |
Bank Statement | Bank statement of last 3 months |
Employment Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
Business Proof | Current Account Statement Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills |
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
Category | Documents Required |
Identity Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
Address Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
Income Proof | Audited Balance Sheet P&L Account and ITR for the previous 2 years |
Bank Statement | Bank statement of last 3 months |
Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
Additional documents | Authority Letter/PAN cards |
2. Private Limited/Limited Companies
Category | Documents Required |
Identity Proof | Copy of Latest MOA Copy of Incorporation Copy of Latest AOA |
Address Proof (Any 1) |
Current Account Statement
Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills |
Income Proof | Audited Balance Sheet P&L Account and ITR for the previous 2 years |
Bank Statement | Bank statement of last 3 months |
Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
Additional documents |
List of Directors and Shareholding Partners
PAN Card Board Resolution Certificate of Commencement of Business for Ltd. Co. |
HDFC Used Car Loan EMI Calculator
An applier has the option to know the EMI’s before availing a Car Loan. Thus, you can check by click on the given link:
HDFC Used Car Loan Types
HDFC Bank offers different types of car loans to its customers. You have the option of opting the offer which suits your the best. The following types of Car Loans offered by the HDFC Bank:
- New Car Loan – Those who want to buy a new car, this is the venture for you. You can take HDFC Used Car Loan for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
- Used Car Loan – If you wish to buy a used car then you can choose this plan which offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
- Loan Against Car – You can choose this scheme if you have need of urgent funds where you can keep your cars as collateral with the bank where you can get up to 100% of your car’s value.
HDFC Used Car Loan Pre Calculated EMI
How to Apply for HDFC Used Car Loan? 
- Visit Dialabank and fill a simple form.
- Our Relationship Manager will call you to guide you throughout the process.
- You can compare various offers from different banks and choose the one which suits your needs.
- You can easily apply for a Loan for Used Car through Dialabank and enjoy best offers.
HDFC Used Car Loan for Top Selling Cars
Other Available Products from HDFC Used
HDFC Personal Loan | HDFC Gold Loan | HDFC Home Loan |
HDFC Credit Card | HDFC Two Wheeler Loan | HDFC Education Loan |
FAQs for HDFC Used Car Loan
✅ What is HDFC Used Car Loan?
HDFC Used Car Loan is a car loan offered to you for buying a car whether a new or used.
✅ How can I get a Used Car Loan from HDFC?
You can get a used car loan from HDFC by visiting the nearest branch of HDFC. You will get satisfaction to apply from anywhere.
✅ How does HDFC Used Car Loan work?
HDFC offers for a used car loan at attractive interest rates. You can get a car loan easily and quickly. HDFC also provides flexible loan tenure duration.
✅ What is the Used Car Loan Interest Rate in HDFC?
The interest rate in HDFC for a used car loan starts at 12.75%.
✅ How to Check Used Car Loan status in HDFC?
You must visit the IDBI Bank branch to examine your used car loan status. You can also use the net-banking facility of HDFC.
✅ How to calculate Used Car Loan interest in HDFC?
For the calculation of your used car loan interest in HDFC, the following information is required:
- Loan amount
- Interest Rate
- Loan tenure
You can calculate interest through EMI calculator available at Dialabank’s website.
✅ What is the maximum loan amount I can avail on Used Car Loan from HDFC?
You can avail a maximum loan amount for a used car loan from HDFC is up to 100% funding of the market price.
✅ What is the loan tenure of HDFC Used Car Loan?
The loan tenure period for a used car loan from HDFC up to 7 years.
✅ Can I get 100% Car Loan from HDFC Used?
You can get loan up to 100% of the market price of a used car loan from HDFC.
✅ How much processing fee is applicable on HDFC Used Car Loan?
HDFC charged a processing fee is 2% or maximum Rs. 5,000 for getting a used car loan.
✅ What are the EMI options available on HDFC Used Car Loan?
The EMI options available on HDFC Used Car Loan are Step-up and Balloon EMI.
✅ What are the charges for Prepayment in HDFC Used Car Loan?
HDFC prepayment charges are up to 6% of the principal outstanding.
✅ Can I get a top-up loan on my existing HDFC Used Car Loan?
Yes, you can get a top-up loan on your existing HDFC Used car loan. Also, get a top-up car loan by visiting the online platform of Dialabank and submit a form online.
✅ Do I need to provide a guarantor to avail a used car loan from HDFC?
No, you do not need a guarantor for getting a used car loan from HDFC.
✅ How to get the HDFC Used Car Loan Statement?
For getting a used car loan statement of HDFC, you can use HDFC’s mobile banking app. You can visit the nearby branch of HDFC.
✅ How to pay HDFC Used Car Loan interest online?
You can pay your car loan interest through the net -banking services of HDFC. If you want a low-interest car loan, you must visit Dialabank online and fill a form there.
✅ What if I can’t pay the interest on HDFC Used Car Loan for 3 months?
If you can’t pay the interest on HDFC for Used Car Loan for 3 months, then it will be added to the outstanding loan amount and repayment charges will redraft.
✅ How can I apply for EMI Moratorium on HDFC Used Car Loan?
You can apply for EMI Moratorium on HDFC for Used Car Loan through visiting the nearby branch of HDFC or you can submit a request through an email. Also, if you want relief for the balance duration, you must apply through Dialabank.
✅ What is the number for HDFC Used Car Loan agent?
The number for HDFC Car Loan agent is 1800-258-3838.
✅ Can I close HDFC Used car loan online?
You can close your used car loan from HDFC by using the net-banking page of HDFC. You have to log in with your details on the net -banking page and pay your car loan.
✅ What is HDFC Used Car Loan Customer Care Number?
The customer care number of HDFC for used car loan queries is 1800-258-3838.
✅ How can I get NOC from HDFC for a used car loan?
You can get a used car loan NOC from HDFC when you clear your car loan amount.
Table of Contents
- 1 HDFC Used Car Loan Key Features
- 2 About HDFC Used Car Loan
- 3 Advantages of HDFC Used Car Loan
- 4 HDFC Used Car Loan Eligibility
- 5 HDFC Used Car Loan Interest Rate, Fees and Charges
- 6 HDFC Used Car Loan Documents Required
- 7 HDFC Used Car Loan EMI Calculator
- 8 HDFC Used Car Loan Types
- 9 HDFC Used Car Loan Pre Calculated EMI
- 10 How to Apply for HDFC Used Car Loan?
- 11 HDFC Used Car Loan for Top Selling Cars
- 12 Other Available Products from HDFC Used
- 13 FAQs for HDFC Used Car Loan
- 13.1 ✅ What is HDFC Used Car Loan?
- 13.2 ✅ How can I get a Used Car Loan from HDFC?
- 13.3 ✅ How does HDFC Used Car Loan work?
- 13.4 ✅ What is the Used Car Loan Interest Rate in HDFC?
- 13.5 ✅ How to Check Used Car Loan status in HDFC?
- 13.6 ✅ How to calculate Used Car Loan interest in HDFC?
- 13.7 ✅ What is the maximum loan amount I can avail on Used Car Loan from HDFC?
- 13.8 ✅ What is the loan tenure of HDFC Used Car Loan?
- 13.9 ✅ Can I get 100% Car Loan from HDFC Used?
- 13.10 ✅ How much processing fee is applicable on HDFC Used Car Loan?
- 13.11 ✅ What are the EMI options available on HDFC Used Car Loan?
- 13.12 ✅ What are the charges for Prepayment in HDFC Used Car Loan?
- 13.13 ✅ Can I get a top-up loan on my existing HDFC Used Car Loan?
- 13.14 ✅ Do I need to provide a guarantor to avail a used car loan from HDFC?
- 13.15 ✅ How to get the HDFC Used Car Loan Statement?
- 13.16 ✅ How to pay HDFC Used Car Loan interest online?
- 13.17 ✅ What if I can’t pay the interest on HDFC Used Car Loan for 3 months?
- 13.18 ✅ How can I apply for EMI Moratorium on HDFC Used Car Loan?
- 13.19 ✅ What is the number for HDFC Used Car Loan agent?
- 13.20 ✅ Can I close HDFC Used car loan online?
- 13.21 ✅ What is HDFC Used Car Loan Customer Care Number?
- 13.22 ✅ How can I get NOC from HDFC for a used car loan?